Gold has big year in 2020 and outlook for this year robust. Learn about monetary expansion and gold future prices.Read More
The gold futures price reached US$1,767/ounce this week before retreating, which was the second time it has surpassed US$1,760 in the past two months, marking some of gold's highest levels in several years.Read More
Zero growth in the US economy in 2019 is a serious risk if the government shutdown, trade war with China and Brexit are not resolved - but recession is unlikelyTrump has not delivered on campaign promises about workers' rights and resentment is building; the government shutdown is now putting air traffic at riskFor more information about the Annual Meeting, visit www.weforum.orgDavos-Klosters, Swi...Read More
What a deal! Newmont Mining will buy rival Goldcorp, creating the world’s largest gold miner. What does it mean for the gold market? New Wave of M&A in the Bullion Industry Just a few weeks ago, Barrick Gold merged with Randgold Resources. The $18.3 billion-deal has created a sector-leading miner owning top gold mines and the largest reserve base among its peers. Initially, the new compa...Read More
Here are five Fastmarkets MB stories you might have missed on Thursday January 24 that are worth another look.An ad hoc coalition of more than 45 groups from various industries in the United States has called on President Donald Trump's administration to end the Section 232 tariffs on steel and aluminium imports from Canada and Mexico.Chinese steelmakers' narrowing margins and improvemen...Read More
US Dollar losses momentum and favors a rebound in gold. XAU/USD remains in ranges, near weekly lows but again above $1280. Gold reversed its intraday trend following the European Central Bank meeting and Draghi’s press conference. It was moving with a bearish and bottomed at $1276 (January low) and then bounced to the upside rising back above $1280. Is of writing tr...Read More
The broad stock market fluctuated within a short-term consolidation range yesterday following Tuesday's decline. Is this a topping pattern before another leg down or just some relatively flat correction within a new uptrend?The U.S. stock market indexes gained 0.1-0.7% on Wednesday, as they fluctuated following Tuesday's decline. The S&P 500 index continued its rebound off the December t26th m...Read More
The price of gold dropped six bucks last week. The price of silver fell 26 cents, a greater percentage.The price of gold can sometimes correlate well with the price of stocks.In the short term, the gold-SPX correlation has clearly turned negative (in fact, a negative correlation is generally thought of as "normal").The Monetary Metals Gold Fundamental Price fell $10 to $1,334.The Monetar...Read More
Orinoco Gold (ASX: OGX) announced that it has just started working with AngloGold Ashanti (JSE:ANG) (NYSE:AU) on establishing an in-country joint venture entity in Brazil, an undertaking that should be completed in the first quarter of 2019.The announcement was made after both companies confirmed the original terms of an earn-in agreement they signed back in 2017.The regional exploration joint ven...Read More
• A modest USD uptick/stability in equity markets prompts some fresh selling. • Dovish Fed expectations/partial US govt. shutdown might limit further downside. Gold struggled to build on the overnight attempted rebound and remained under some selling pressure for the second consecutive session. The precious metal failed to capitalize on the early upti...Read More
Investors are proving a fairly patient lot these days, considering the big questions marks around the global economy and the U.S. government itself. Comments from top White House economic adviser Kevin Hassett a day earlier about "zero" growth for the U.S. if the shutdown doesn't end soon, are still the subject of some chatter for Wednesday. The day for Wall Street is looking positive so far, but...Read More
Consumption of ferrous scrap in the United Kingdom will continue to increase over the coming years amid an expansion in the UK operations of international metals group Liberty House, Fastmarkets MB's research team believes. UK scrap demand in 2018 is on course to rise for the first time in four years after Liberty restarted a second electric arc furnace (EAF) at its site in Rotherham, northern Eng...Read More
It's been nine months since the United States announced Section 232 tariffs, and over six months since a 10% tax was applied to imports of aluminium from Canada, Mexico and the European Union. There's been a huge debate over how successful the tariffs - imposed on the grounds of national security and also applied at a 25% rate to steel - have been. Much depends on who you talk to, and what their s...Read More
Gold prices finished lower on Thursday, with the metal's short-term prospects linked to a firmer dollar, but investors keeping watch over the impact of the partial shutdown of the U.S. government and ongoing U.S.-China trade dispute. Longer term, most analysts remain upbeat in their outlook for precious metals as a mixed picture for the economic outlook and major global issues, including those tra...Read More
Latest IMF global growth forecast strengthens gold's safety demand.China's slowing growth rate also bodes well for gold's fear component.Rising ETF demand is also supportive of gold's intermediate-term trend.Just when it looked like gold's "fear factor" might be fading, worries over the strength of the global economy have come to the rescue. In today's report, we'll examine the dev...Read More
Gold _ Silver Spot Gold bounces back towards our selling opportunity at 1286/88, with stops above 1290. Next target & resistance at 1294/95. Bulls need a break above 1299.Minor support at 1278/77. Below 1276 is a sell signal targeting 1274 & probably a buying opportunity at 1268/66. Try longs with stops below 1263. Silver bounces back to 1543 but look for a selling opportunity at 1553/55 w...Read More
Years ago, the idea that machines would replace humans on the trading floor seemed far-fetched and the suggestion that algorithms might replace humans entirely ridiculous.But both have happened in some shape or form, making the advent of blockchain - now being vaunted as the next game-changer in technology - a lot more realistic than naysayers might initially think.Dozens of trials and projec...Read More
What would it take for President Trump to re-monetize silver? Hugo Salinas Price spells out what it would take, and it wouldn't take much...by Hugo Salinas Price of Plata.com.mxA Message for Trump. Expanded and Clarified as of January 23, 2019.Mr. President Trump, Sir: you are working tirelessly, against tremendous odds, to carry out your mission in life, which is to "Make America Great Again".I p...Read More
US futures brokerage and clearing firm RJ O'Brien & Associates has hired energy-sector veteran Patrick Melia as senior vice president of commodity sales, the company said on Thursday January 24.Melia will be responsible for expanding the company's energy and metals clearing and execution business globally, in...Read More
Chinese steelmakers' narrowing margins and improvements in the supply of Brazilian iron ore have resulted in lower penalties for alumina content in the steelmaking raw material recently, though there are factors that could raise buyers' sensitivity toward this impurity in the coming months. The main driving factor for alumina sensitivity among buyers last year was the robust steelmaking margins in...Read More
Gold prices ended slightly higher on Wednesday as weakness in the leading dollar index offered support, but some strength in U.S. equities kept a lid on gains for the precious metal. A mixed picture on the economic outlook and major global issues, including trade and Brexit uncertainty, has also contributed to recent gains for the haven metal. Gold for February delivery on Comex GCG9, +0.09% rose...Read More
Lead outperformed the other base metals on the London Metal Exchange on Thursday January 24, closing 2.2% higher, while both zinc and tin also gained amid continued falls in LME stocks. For lead, on-warrant metal remains at its lowest since 2009 at just above 41,000 tonnes. And in tin, persistent outflows and fresh cancelations are propelling the price higher; the exchange's total tin inventory is...Read More